Foreclosure scams to avoid

A homeowner facing foreclosure may be willing to try anything to save his or her home.  Homeowners
who do not proceed cautiously at this point may find themselves the victims of a foreclosure scam.

When it comes to foreclosure scams, the best way to protect yourself is to know what to look for.  Although foreclosure scams come in a number of different formats, many are easy to spot. 

Be wary of the companies and individuals that approach you by mail, telephone, or in person.  Be sure to read all dosuments that you are requested to sign.

In one type of scam the individual or company offers you a new loan.  However, the documents you are given to sign are not loan documents. The documents you sign may actually turn over the property ownership to the individual or company in question, with you, the former homeowner, remaining as a tenant at a high rental rate.  

The scam artist will pocket all the funds you paid to obtain the “loan” and any rent payments you make.  The scam artist will never contact your bank or pay any money to your bank to bring the loan current.  The foreclosure will simply continue on its original time table; and the scam artist will be long gone.

If you are interested in purchasing any of the properties you find featured on our Foreclosure Listings page we have highly qualified agents ready to assist you. 

If you need to discuss the possibility of a short sale on a home you now own, we have experienced short sale agents on our staff. 

Bob Taylor Properties, Inc.
5526 North Figueroa Street,
Los Angeles, CA 90042
323.257.1080
bobtaylorproperty@gmail.com
DRE# 01304057